Automated Underwriting

Product Details

STEP Solutions creates an automated, streamlined underwriting process. It incorporates rule-based risk assessment that enables smarter and faster underwriting decisions. STEP's automated process is designed to improve overall underwriting cycle efficiency by lowering underwriting overhead, reducing costly errors and reducing or eliminating manual efforts.

The requirements for underwriting Long Term Care products are unique. STEP Solutions’ powerful underwriting platform fully handles the complexity of LTC products. The web-based system includes a stylized, reflexive applicant questionnaire that is conducted and completed via a telephone interview. Based on the applicant’s answers and the established rules-driven underwriting guidelines, the application is electronically processed and directed to the Underwriter’s Workbench.

The Underwriter’s Workbench provides for a consistent underwriting discipline and acts as a dashboard for the underwriter to request, collect and review all requirements necessary to evaluate the applicant’s insurance risk.

Its key features include:

Customized sales illustrations & quick quotes
Configurable agent workflow
Agent credentialing
Agent continuing education
Document management
E-signatures